Investment Objective The investment seeks to provide investment results that correlate, before fees and expenses, to 200% of the inverse (opposite) of the performance of the BNY Mellon Emerging Markets 50 ADR Index on a daily basis.
The fund employs as its investment strategy a program of engaging in short sales of securities generally included in the underlying index and investing in leveraged derivatives instruments. It invests at least 80% of its net assets, plus any borrowings for investment purposes, in financial instruments with economic characteristics that should perform opposite to the securities of companies included in the underlying index. The fund is non-diversified.